Signal Technology Foundation, the non-profit organization that developed the messaging application, switched-on the receipt of contributions in cryptocurrencies through The Giving Block, a company that manages donations.
The cryptocurrencies that became donations on its website are bitcoin (BTC), ether (ETH, from Ethereum), BAT (Basic Attention Token), litecoin (LTC), bitcoin cash (BCH), and zcash (ZEC), and many others.
“As a non-profit organization, we mainly depend on your support. Suppose you have been patiently waiting for Signal to accept donations in cryptocurrencies. In that case, you no longer need to save (sic. ‘Hodl’) your generosity,” they said on Twitter, as an apparent reference to the viral term in English “hodl,” which means to resist as much as possible to sell the cryptocurrencies.
When a user confused the term Hodl with a typo, as it originated on the BitcoinTalk forum in 2013, from the Signal Twitter account, they said: “Soem typso becoem realyl populra” (Some typos become very popular), and then they adhered an explanation about Hodl.
The Signal Technology Foundation was created in 2018 by entrepreneurs Moxie Marlinspike and Brian Acton, who provided funding of $ 50 million, according to a TechCrunch report published in January 2021. But since its creation, Signal relies mainly on supportive donations.
Signal, the message application, became a monster (enormous) and grew that way since January of this year. Its rival WhatsApp’s privacy policy changes received massive downloads mainly because of the direct recommendation of influential personalities such as Elon Musk.
Given the features adorning this application, this niche may be a portal to reach many relevant opportunities, knowing that enthusiasts and users of Bitcoin and other cryptocurrencies tend to place a high value on privacy.
According to reports, in January 2021, the application was conducting tests on issuing its cryptocurrency, a project on which there is no further information to the date.
What is Signal, and what is its Purpose?
Signal is an instant messaging application. It appears to be for users an alternative to other more popular ones like WhatsApp or Telegram. It is less used but no less popular among advanced users because it brings more excellent privacy features. It is almost impossible for other users to generate an interception through other users’ communications as it can happen in many other apps.
Signal works with an end-to-end encryption protocol called Open Whispers Systems for all communications. The messages leave your mobile wholly encrypted and under encryption only when they reach the recipient’s mobile.
If someone intercepts the messages on the way, they won’t be able to read them. Signal’s encryption is so popular that WhatsApp itself decided to use it.
Unlike other applications, which only apply end-to-end encryption when you deliberately open a private conversation, both Signal and WhatsApp use this encryption by default in all discussions.
By: Jenson Nuñez
